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CNBC
Feb 1, 2013 6:00am EST
that is coming up. ed koch, the former new york city mayor has passed away. he was a three-term mayor in new york city, served from 1978 through 1989 and his policies were credited with saving new york city from almost certain financial ruin. there were some combative times that he went through, as well. he was a beloved mayor that did a lot when it kams to the financial names. he had been reported earlier that he was in intensive care this morning and they are just coming out with this news. >> he's a giant in new york. >> i grew up in new york city when he was out mayor. >> really? >> yeah. wonderful man. wonderful man. we've got much more "squawk box" to come as the countdown to the jobs report plus the earnings we're going to get from mattel and why mcdonald's dollar mcdouble might be harder to stomach. plus we've got the super bowl this weekend. and brian shactman, are you ready for some football? >> i'm ready for some football, a little bit of food, maybe some wagering and some new orleans fun, guys. we'll follow all of those things next on "squawk box." [ male announcer ] you a
CNBC
Feb 6, 2013 2:00pm EST
the -- >> you were saying, as you were saying before you left to go into the city today, this is sort of a classic consolidation process, not a sell-off, per se. >> exactly. and it is kind of bullish for the market if we can hold the key technical levels, ty. >> thanks for watching, everybody. >> have a great afternoon. "street signs" begin right now. ty and i will be back tomorrow. >>> welcome to "street signs." today we begin with a question for you. which school tech name has the best year. four names you know, only one can win. we want you to play as well. herb, finally. get to work. he has dug out the companies jacking up dividends the most and how they are doing might just surprise you. plus, what the rest of congress may actually be able to learn from the post office. yeah. and we take another "street signs" look at jc penney and whether that company is finally doing it right, mandy. >> hello, everybody. take profits. at least that's what we have been doing. we did go briefly positive and if we do that again by the close, we may have the first two-day winning streak for the dow
CNBC
Feb 21, 2013 1:00pm EST
features like crown molding and hardwood floors. >> the taxes, is that really in the city of cleveland, this house? >> this is in the city of cleveland, a great location, within walking distance it a lot of nice restaurant. so some community theater. and a newly renovate movement issy theater. >> so if you like that kind of turn of the century house in downtown area, that be one for you. now let's look at carol avenue. $339,000. tell me about this one. another older home. >> correct. our move-up home. original house built in 1854. it is a bic home. completely renovated. a wonderful floor plan. very open. some very nice features. >> oh, look at that. looks nice on the inside there. keep talking. >> a solarium in your living room. a unique feature. you can have greenery in there. a multiple-head shower. >> now there was one that was a turquoise and another one one was a oaker color. which one is this? >> the oaker color. >> oh, the turquoise, i was thinking, that's a strong color. now time for 60 basswood lane in mooreland hills. popular area. now we step it up, a shall atile home, $838
CNBC
Feb 17, 2013 7:30pm EST
will have an impact "on the money." and is the city of new york city takeout in jeopardy? we look at the newest edition on michael bloomberg's list of banned substances. as we take a break, look at how the stock market ended the week. back in a moment. >>> for more on our show and our guests, check out the website otm.cnbc.com. i hope you'll follow me on twitter and google plus, look for me @mariabartiromo. >>> first, here's a look at the stories coming up in the week ahead that may move the markets and impact your money this week. >>> monday is president's day. stock market and banks are closed for the holiday. following that, earnings are out from walmart, hewlett-packard and dell computer. by the way, that could be the company's last earnings release before going private, that's dell. wednesday we'll find out the number of new residential units that began construction last month, as well as what happened behind closed doors at the last meeting of the federal reserve open market committee. the minutes from that meeting are out on wednesday. on thursday, realtors will report the num
CNBC
Feb 27, 2013 4:00am EST
get all the data as the city's poised to enjoy a return to higher growth. >>> and we fly tout singapore to speak to the global head of trade at hspc who think that the face of trade is changing as more high-end products are due to be exported out of emerging markets. >>> bides all of that -- besides all of that, the focus is on the auction in italy. that will hit the tape in an hour and ten minutes. how much will italy have to pay for its political impasse? rome looking to sell between three and four billion euros of a ten-year issue. this was the six-month auction producing the most since 2012, up around 50 basis points. this is where the euro is trading ahead of the auction. 130.79 where we stand currently. yesterday we were down at seven-week low of around 1,317 -- 1.3017. it's warned in italy that a loss of investor confidence could increase borrowing costs and reignite the debt crisis. as for italy's politicians, the leader of the center left coalition has vowed that he would try to form a government and seek an alliance that would respond to the call for change. he's als
CNBC
Feb 13, 2013 12:00am EST
in math... >> good job. >> narrowly outperforming their white peers in the city's public schools. >> 96. is that the answer? >> [together] yes. >> even more impressive, canada's impact on middle schoolers, kids who enrolled in the promise academy in the sixth grade. they started out far behind grade level, but dr. fryer found that within three years, they had virtually eliminated the achievement gap in math and reduced it by nearly half in reading. >> these are kids that a lot of people had given up on. and he showed that it's never too late. >> does it change the way you look at the problem? >> it does, because here's an analogy. we're ten touchdowns down in the fourth quarter. we kick a field goal, and everyone celebrates, right? that's kind of useless. we're still 67 points down. >> you're still losing. >> we're not just losing. we're getting crushed. all right? what geoff canada has shown is that we can actually win the game. >> geoffrey canada may be winning, but he is nowhere near declaring victory. >> reversing the black-white achievement gap and then closing it in element
CNBC
Feb 28, 2013 12:00pm EST
the conversation always seems to center around the banks, the the citi's, the morgans. >> if you look at xlf, for instance, it's trading right below its recent high, if that breaks out above that, if that's working, you don't need to look elsewhere. it's working right now so you can look at the goldmans and they are working. >> you'll get more leverage and joe has been on regions. >> the largely capital banks are not. they have spun off those units so when you see stock markets acting as cooperatively as they have been, when you see in-flows charging into bonds and stocks, issuance up, deals happening, that favors the goldmans, the morgan stanleys. that's why we emphasize them and why they have been leading. there's going to be a second leg to this story and it probably won't just be capital markets. it will be wage growth. i will start looking elsewhere. >> one other name. comerica, you're having a nice recovery. regional banks, incredible source of opportunity. >> all right. not so fast, mike murphy. my traders are quick but they are not always right and last month mike gave a final
CNBC
Feb 28, 2013 2:00pm EST
how the cuts will impact their cities. >>> the real story of the shale boom and how you can play it. and by the way, we are watching the dow, mandy, because it could be this hour that we cross over into new all-time highs. >> indeed we are moving at a closer to the dow's all-time high. at this stage less than 40 points away and officially at a new five-year high. dow transports are already as an all-time high. as we wrap up the february trade, gold looks like it is down for the sixth straight month. oil, by the way, down for the first month since october. so lot of great things happening at this hour. let's get straight down to trading floor. rick santelli in chicago. bob, you think we will make it? all time closing high today? >> my guess earlier today is no. you have money flows coming in and often than an up day. but let me show you what happened to show you how unpredictable things are. we had this blip up here. there is no particular news event i was able to find or anyone was able to identify. if you look at the spider, at etfs among the more actively trading ones, this is s&p
CNBC
Feb 1, 2013 9:00am EST
years, known for saving the city from financial ruin. michael bloomberg saying in a statement the city has lost an icon. a cheerleader, champion, 5,000-word oh bit in the "times" today, words like pugnacious, tenacious, outspoken. david, you know his story pretty well. he really did set the stage for giuliani to change the city. >> yeah, he was the consummate new yorker. of course, living in his apartment not far from here, in greenwich village for so many years. not everybody in the community, but many would say, our mayor. when he came into the office in '78, the city was at or near its nader. i can remember it well at that time, of course. and we did grow a great deal under his mayorality. not without some scandal, but certainly with a great deal of enthusiasm. in many ways he brought the spirit back and made you feel good about being a new yorker. which is not easy to do, when you had lived through the '70s. >> he passes on a day where a new biography, a film biography of him opens. something somebody said is the kochiest thing he could have possibly done. >> i've seen it. a friend of
CNBC
Feb 7, 2013 9:00am EST
how he missed the crisis at citi. >>> is it time to say good-bye to the u.s. airways brands? a deal looks close for amr's american to take it over, become the number one brand. does consolidation mean airlines just got more attractive. >>> we start off with the retailers, january report card, macy's posting an 11.7% jump in same-store saturday and raising guidance. stellar results from some of the retailers. >> such a mixed picture. some guys -- kohl's, people decided their clearance is moving the stock up nicely. gap strong happens moved. consistently great job. people talking about urban outfitters doing a great job, doesn't seem like the stocks right now are moving the way you would think they would. i don't know how many people are counting on this particular month -- >> a short month, bleedover from the holidays. the rate of beats, 59% is the strongest since august, which was 86%, thanks to mkm partners. the number of them that have outpaced expectations is pretty big, relative to everything else. >> this is historically the one month i don't care about valentine's day matters
CNBC
Feb 8, 2013 3:00pm EST
the ground the meantime new york city under a blizzard warning at the moment. forecasters saying that we can expect anywhere from 10 to 15 inches of snow, and as the day has progressed we have also seen travel disruptioned increase. we looked at amtrak recently. it has suspended its northbound regional lines and the acela service between boston and new york, and also looking at some of the flight cancellations. according to flightaware.com. the latest number, 4,630 flights have been cancelled from yesterday, today and also for tomorrow as airlines try to get ahead of this storm. and, of course, there's an economic impact as well, but some economists have told me it could end up being a wash. you see people buying more ahead of the storm to stock you. we could see a whiteout shutting retailers down tomorrow, but at the end of the day it should be about equal. back over to you. >> jackie, thanks very much. let's check in on how the storm is affecting new york city itself. the weather channel's paul goodloe is there in times square. paul? >> well, here we've had a mixture of rain and sno
CNBC
Feb 22, 2013 12:00pm EST
earlier this week. and you've got coach on citi's list of the global top 50 stocks, which i found ironic. >> citi's clearly wrong. coach hasn't been in style for quite some time. my kids stopped buying that years ago. fashion is a fad and coach is fashion. michael kors is the hot one right now. i sold macy's over $40 on wednesday. i'm worried about the consumer. i'm worried about retail guiding down because of obama care because don't forget, they have to start -- >> wait a minute. that's a headline in and of itself, at least in terms of what we talk about on this show. you've been a backer of macy's for a long time. >> right. >> you have believed in the story that lundgren, the ceo, has been telling us. now you're out. you're making a bigger statement here about where you think the consumer sits and where the market could go? >> i didn't quite slip that in, did i? i think that macy's is still a cheap stock. however, i'm worried about the consumer space. i'm worried about the consumer a little bit in terms of the money that's going in there, the expectations. and macy's already to
CNBC
Feb 20, 2013 9:00am EST
, macy's and jcpenney heading to court in new york city today over the right to sell martha stewart home products. courtney reagan had an interview on "squawk on the street" last month. >> it makes me very unhappy, of course. i don't like to have any arguments with our partners. otherwise our business has been very good at macy's, robust. good christmas sales. >> trial starting right now in lower manhattan. courtney reagan is there live with the latest. good morning, courtney. >> this battle has been brewing for well over a year, today it's just the beginning of the opening arguments in the battle of macy's versus jcpenney with the domestic diva right in the middle. in december of 2011, jcpenney acquired a nearly 17% stake in martha stewart living omnimedia for $38.5 million. with the intention of creating shops featuring stewart's lifestyle brand. macy's who currently sells martha stewart, sued over the agreement on grounds it had exclusive rights to sell these types of goods. in july, macy's filed a preliminary injunction preventing jcpenney from selling certain product categories
CNBC
Feb 13, 2013 5:00pm EST
. stay with cnbc. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here is what "fast" is following tonight. leon cooperman is liking facebook and selling out of apple. we're breaking down the reasons. great rotation. we have a bond fund manager who says the money flow into stocks is definitely happening. but will your bond holdings blow up? and smart money. are hedge fund managers really the smartest guys in the room? an epic street fight. first, let's get straight to jon fortt covering the cisco conference call. >> moving around a lot, melissa. it was down more than 3% at one point, but just came back as soon as cisco gave guidance. let me tell you what the numbers are. cisco guiding for fiscal q-3, the revenue growth between 4% and 6% year over year, assuming they are able to spin off linksys successfully. nongap operating margin between 26.5 and 27.5%. nongap tax provision tax rate 21%. and they're guiding to nongap eps between 48 and 50 cents. that midpoint, of course, 49 se cents, that's exactly what the street we
CNBC
Feb 14, 2013 9:00am EST
biggest cities. siemens. answers. >>> welcome back to a news packed "squawk on the street." road map for the next hour, m and a hitting the street, berkshire and 3g buying heinz for $20 million including debt. we'll ask a long time berkshire shareholder how he feels about the deal. >> comments on the merger in the skies between us airways and american airlines. it is a cnbc exclusive. >> ceo of zillow joins us, shares surging 20% after record fourth quarter earnings. his initial reaction live in just a few moments. first back to the huge news of the day. warren buffett's berkshire hathaway and 3g buying heinz. bring in the man who broke the story. andrew sorkin. thanks. walk us through the history of this deal. >> this deal -- thank you, carl. the deal came about starting in december when actually the folks at 3g reached out to warren buffett. we do have warren buffett describing the transaction. it is for $72.50. the premium, 20%. should note 20% off its highs. that is something not though sneeze at. take a listen to what warren buffett had to say about the transaction. >> we're
CNBC
Feb 12, 2013 4:00am EST
coming up in just a few moments. >>> and the mayor of london boris johnson says the city will remain at the heart of europe's financial services industry. >> i think that london and the uk will remain for our lifetimes the economic financial powerhouse of the european union. i don't think that there's going to be any change in that. it's inevitable after the shake up that we've seen in the last few years that there will be downsizing in some of these banks but that doesn't mean that you won't continue to see huge number oefs people employed in financial services in this city. this place, london, has the right time zone, it has the right combination of skill, it has the right language to be the best place on earth in which to raise capital in the global economy. >> and the situation surrounding greece and cypress has taken center stage at the euro group talks. silvia wadhwa call up with olli rehn and asked him just what was decided on cypress. >> we have plenty from cypress on the bond program for cypress could be taken in the course of the much. and the other things to watch to get our
CNBC
Feb 20, 2013 6:00am EST
. windchill of four here in buffalo. in the city, 20 degrees the windchill. boston, 27. the winds howling, temperatures dropping. yes, more snow falling out there, especially around the lakes today. south of buffalo, that's where it will be focused and into northern maine. good news for the skiers. most of this last storm stayed mostly snow. the slopes are still in good shape. totals today mostly north of syracuse toward the tughill plateau, 94 staying breezy and dry. most of the concern over the next couple of days will be the latest winter storm. moving into the west today, snow overspreading the four corners area. colorado into new mexico, arizona, utah, all picking up significant snow. this really cranks into the day tomorrow. we'll have heavy snow across nebraska, kansas, missouri, into iowa. big area of sleet and freezing rain here across southern missouri and northern arkansas. travel is going to be really rough. for some folks with enough freezing rain, we could be talking power outages for several days. especially in northern arkansas. that's something to watch. and then on frida
CNBC
Feb 21, 2013 4:00am EST
for the city of london, a lot of big advisers, jpmorgan, credit suisse, some of the lawyers, price waterhouse coopers, a lot of people who are on the board of bumi, all of them have tarnished reputations as a result of this scandal. >> whose fault is that? >> that's a good question. and there's still a bitter takeover by the panel going on as to exactly who knew what when the fundamental issues about funds that have gone missing from the company before it was brought to the london market. >> and nat rothschild has a lot of complaints about that money. the question is whether he knew about it before he brought this company to the london market, anyway. >> he calls the current management team a disaster. the company is uninvestble. we have to get out the cancer, he says. >> bumi has made a lot of commitments as to what they will do if this vote is won. they certainly sent a message that the current chairman will step down, the backrie family have offered to buy out half the company in return for their own shares in bumi. so in theory, at least, they will become disconnected trt compa
CNBC
Feb 6, 2013 12:00am EST
unpaved road from the capital city to the hospital. >> why do they call this a highway? >> you got me. you got me, buddy. it's the principle artery through central haiti. >> if the ride doesn't break your back, what you see when you arrive will break your heart. the squatter settlement of cange is one of the poorest parts of the poorest country in the western hemisphere. >> [speaking french] >> the desperate need paul farmer saw here as a young man inspired him and four friends to create partners in health. they raised money and built what's become the largest hospital in central haiti. >> [speaking french] >> how many lives do you think partners in health have saved? >> in medicine we say t.n.t.c.: too numerous to count. too numerous to count. >> what began as a small, understaffed, ill-equipped clinic in 1985 today has 100 inpatient beds, an array of specialists, and three operating rooms. they have nearly two million patients visits a year. >> [speaking french] >> and the medical care here is free. for paul farmer, health care is a human right. he wants to show the world that ch
CNBC
Feb 7, 2013 7:00pm EST
up in the boston area, how fast does it come south and west through connecticut into new york city and the metropolitan area here? >> it's going the other way around. it's going to start -- new york city will be tomorrow morning, connecticut will be about midday, then boston mid afternoon and then again everybody just needs to be off the roads. if we can get everybody off the roads by noon tomorrow through noon on saturday, we're going to save a lot of people a lot of frustration because i'm telling you, when it's start snowing at two to three inches an hour, the plows can't keep up. all it takes is one bus to slide off the road and it's gridlock on the roadways. running out of gas and spending the night in a cold car, it's not fun. i never talked to anyone who said they wanted to do that again, spend the night in a cold car. >> take care of yourself. >> tonight we heard another dire warning from secretary of defense leon panetta about what would happen if the sequester cuts quick in. next and protesters interrupted confirmation hearings five times before cia director john brennan
CNBC
Feb 6, 2013 7:00pm EST
is we are big city folk. in the smaller, rural parts of the country and you can speak to the congressmen representing the districts the post office is the central meeting place. i have never been to these places. there is something going on there. i respect that. >> if you go on a listening tour. >> i should. >> you're making the right point. this point will come up later with the military. it's so widely distributed. everybody has an impact on this. we do live in big cities but people in kansas don't have the same relationship. >> shouldn't have to pay for that. >> you can't have everything you want in life. i have a number. $47 trillion. do you know what $47 trillion is? from the cbo, congressional budget office, that's u.s. federal spending for the next ten years. $47 trillion. okay? can we agree that's a big number? now the post office will add to that number. i think we should be subtracting from that number. i don't care what sentimentality or who claire mchaskill is. she shouldn't have run the race. she ran against a dope. i have to get out of here. dan greenhaus. the
CNBC
Feb 11, 2013 6:00am EST
, the biggest snow in city history, 32 inches of snow falling in portland, maine. we have a messy commute for you, more freezing snow, more rain rolling in. for new york, it will be all rain for you. put it on top of the foot of snow that you had, it's a crummy morning. light snow rolling in towards boston and freezing rain, temperatures at 26 degrees. 3 below in bangor. in the capital district about 32. in new york, temperatures close to 42 degrees this morning. a little bit more snow to go, mostly through northern new england, as much as half a foot. and in watertown. but now, in addition to that, the staff has gotten very, very active. yesterday evening, a tornado touching down in hattiesberg, mississippi. many people injured, hitting southern mississippi campus here. more storms firing up this morning, not ruling out tornados. more storms in pensacola, florida, including val ves ton and houston. low chance of tornado, but a high threat for flooding. guys, no matter how you slice it, north or south, some very unwelcome weather this morning. >> yeah. we're okay, though, with tha
CNBC
Feb 7, 2013 4:00am EST
. so unfortunately in this regard, i'm moving from one of the least expensive capital cities in the world, ottawa, to one of the more expensive, shall we say, capital cities in the world, london. >> would you have done the job for less? >> i was offered these terms and i accepted them. >> do you see there might be any resentment amongst staff at the level of your pay package? i'm not aware of any. >> you don't anticipate that in any way? >> i don't anticipate -- if i may say in terms of the pay package, the pay package is, if i may, properly viewed as pay pension and -- >> mark carney continuing to talk about the logistics of it as taking on the role of the head of the bank of england. we can already tell you from statements that are on the wire that he's talking a lot about the exit strategy. he's saying there are limits, you know, to changing the policy framework that the blank of england might pursue. let's bring tom vosa back in here. tom, i have to say there's a generally hawkish tenor to what we're seeing so far. we've seen the spike in the pound as a result of this. what do y
CNBC
Feb 5, 2013 9:00am EST
cities, yum doesn't even have competition. it has the supply chain, and the real estate identification teams to get into the smaller markets. the competition is scarce. the tier one markets, the returns are deteriorating. that's why they're slowing down that development there. but yum brands has a very deep investment capital opportunity if they can get its brand back on track. >> david, thanks to speak with you. >> thank you. >>> still ahead, much more of the dell buyout news. and the doj lawsuit.ate in me? with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades n an account. to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and
CNBC
Feb 6, 2013 3:00pm EST
>>> well, "the economist" is out with its list of most expensive cities in the world based on the price of everyday items. at number five, we have melbourne, australia, my hometown where, unfortunately, a loaf of bread there will set you back an average of $4.84. oslo, norway, very expensive city, a pack of smokes governments 15 bucked and number three, sydney, a bottle of table wine will cost you $25 which is a disgrace considering how much wine we produce and the runner up osaka, japan, where a dinner for four costs you $950. world's most expensive city, tokyo, loaf of bread, $9.60. >> thanks for watching "street signs," everybody. >> "closing bell" is next. >> hi, everybody. we enter the final stretch. welcome to the "closing bell." i'm embroemo at the new york stock exchange. this market trying to finish and retake that 14,000 level, not so fast. >> we're coming back here. i'm bill griffith. a see-saw day so far, the market's february volatility does continue and setting up to be an interesting final hour of trade, this being the most important hour of the day. as we've noted
CNBC
Feb 5, 2013 5:00pm EST
market site in new york city's times square, i'm melissa lee. magic kingdom. disney's been the happiest place on earth for investors. why mickey mouse is still a good bet. tech troubles. it's the worst sector so far this year. tom picks that benefit from the mobile revolution. and blackberry brawl. can the momentum continue for blackberry? dan and guy duke it out in a smartphone street fight. first, let's get straight to breaking news here. shares of hewlett-packard surging on reports that the board is studying potential breakup scenarios. jon fortt has the latest. fact or fiction here? >> melissa -- fact, but not extremely exciting fact. the business new side courts reporting this. not a lot new i see in this report, saying that the board is exploring a breakup of some divisions, among other scenarios to maximize shareholder value. doesn't seem they've ever stopped analyzing these scenarios. but the spin off of the pc business is something that meg whitman keeps ruling out. earnings call after earnings call. nothing clear anything about that has changed as of this point. but o
CNBC
Feb 4, 2013 4:00am EST
some positive news there. tina, from citi, she's been taking a look at what the president has to do, i guess, in his second term or what he's expected to do. what i loved was your point, how did you put it? fiscal deals or compromise tend to disappear in washington like -- >> the bermuda triangle. >> you don't have high hopes for compromise here? >> no. most politicians in the developed world, and the u.s. very much within this, it's not going to see -- i'm not going to provide fertile ground for grand bargains. politicians like to talk about it. this is their way of saying, we're ready to do a deal, but it's those guys, they won't compromise. we think we'll see more of this piecemeal last minute compromises. >> and we're fating critical issues in the u.s. people might be aware of the fiscal cliff, but there's the continuing resolution, there's the sequester that goes into effect march 1st. should we hold our breath for compromise here? and, again, the issue is being forced because these are situations in which if there's no action, something still happens. >> that's right. that's w
CNBC
Feb 7, 2013 6:00am EST
northern rhode island. new york city, in is a tricky forecast for you. you're right on the line. we know it's going to snow. the question is, how much is it going to snow. we've got you in the 6 to 12 inch range right now. that would be the biggest storm of the year so far. northern new jersey, some big snow totals and in lesser amounts if you move south and west. don't think you're going to have to go very far to get into the north or east to get into the bigger snow totals. poughkeepsie, eastern long island, things will be significantly worse than we see in the city itself. timing there is late tomorrow and into tomorrow night. you see amounts tapering off as you head farther south and west. the idea here is that a lot of people see a foot of snow. some people say two feet of snow. maybe in a few spots in and around boston we could see three feet of snowfall out of this one. your top five snowstorms, the biggest, presidents' day in 2003. some model res saying we may beat that total in boston. not written in stone, but these are ones that everybody remembers. we stop that, that ind
CNBC
Feb 18, 2013 12:00am EST
ago. >> in the early part of the 20th century, the streets of new york and other large cities were lined with gaming establishments called bucket shops, where people could place wagers on whether the price of stocks would go up or down without actually buying them. this unfettered speculation contributed to the panic and stock market crash of 1907, and state laws all over the country were enacted to ban them. >> big headlines, huge type. this is the front page of the new york times. >> "no bucket shops for new law to hit." >> so they'd already closed up, 'cause the law was coming. here's a picture of one of them. and they were like parlors. see? >> betting parlors. >> betting parlors, yeah. >> it was a felony. well, it was a felony when a law came into effect, because it had brought down the market in 1907. and they said, "we're not gonna let this happen again." and then 100 years later in 2000, we rolled them all back. >> a bill to reauthorize and amend the commodity exchange act to promote... >> the vehicle for doing this was an obscure but critical piece of federal legislation c
CNBC
Feb 14, 2013 2:00pm EST
, the biggest yacht in the world just pulled into new york city and we've got video, mandy. >> indeed. but we begin right now with breaking news. live video coming in of the carnival cruise ship triumph diego towed. 5,000 passengers trapped in reportedly horrendous. holding sheets for signs, reminiscent of hurricane katrina in louisiana pch and we talk with january e with janet. what is interesting in this situation? >> as you see the signs on the ship, basically limping into the port of mobile. they say things like help us get home. sos. they are writing them on their very own bedsheets. this is clearly desperation of people who have been without power for five days and have another seven hours until they get here. a couple of hours to get off the ship and then it is the trip back to texas or wherever they came from or a night in a hotel. so insult to injury when we learn today that the ship would not be in this afternoon, that it would take longer than expected and come in this evening. what carnival says it is doing to help expedite the process. customs agent going to the ship to g
CNBC
Feb 6, 2013 4:00pm EST
megabanks, especially city and b of a have not performed well, even going back before the crisis, trading at significant discounts to tangible book value. so where the government could play a positive role is getting more information out to investors so they can decide maybe the economically best solution for this is a market-driven breakup, but right now it's very difficult again the inadequate disclosures to see how profitable each business line is because the mega banks don't allocate their capital expenses according to their business line. so i think the government has probably not looked at that as much as they should, and we need to get market information out. i think the market can provide a much faster solution than government, but you're right. they are still continuing interest in congress on some type of size limit or breakup proposal. >> i guess, isn't it difficult to see a different, you know, setup in europe than the u.s.? i mean, do we need a global standard? >> yeah. >> is it even logical to think that we have one standard across the world? >> well, i think that w
CNBC
Feb 6, 2013 4:00am EST
the u.s. properties in cities like phoenix are up 26% from just a year ago according to one new report. so some are wondering if they're too fast. that's right. that story is on the web site, as well. >>> also, the recent euro rally is fueling concerns of further pain in the struggling eurozone, prompting french president hollande to call for reforms to the international monetary system. can a strong euro derail europe's recovery by dampening export demand? you can see what people have to say at cnbc.com. >>> still to come on the program, you've pinned pictures and videos on pinterest. now the online scrapbook is looking for someone to pin them funding. find out how much they want. to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a
CNBC
Feb 22, 2013 6:00am EST
. >> titan. >> the city of titan tires who was looking potentially or was asked to look at a factory in france. >> and he said -- >> not only -- >> they talk for three hours and then they take an hour for lunch and an hour for a break and they're highly compensated. and the french said that's the way it works here. >> that's what he said they said. he said when they approached him he knew -- >> i do sort of, loving paris and loving rome it's like, well i live in paris. i don't want -- three hours is a good -- that's a good number for me. and then i think about us. how long is our show? >> three hours. >> that's right. >> we can talk for three hours. >> do you want to work -- if you're in italy do you want to work longer than three hours if you're looking at the bay of salerno outside of naples, do you want to -- >> do you want to hear something from the ceo yesterday? >> i do. >> we have a sound bite? >> we have a sound bite from the ceo of titan. listen in to what he told maria. >> what i said was true. and they admitted it. they laughed about it. okay? and that's where this union pres
CNBC
Feb 24, 2013 9:00pm EST
around the world, some based in cities right here in the united states. >> are you a procurement agent for iran? >> [chortles] no, that's ridiculous. no. >> but of course that's sort of the implication of the case against you. >> i'm nothing to do with iranian government or things like that at all. >> mohammad vaghari, mitch to his friends, an iranian who's lived in the united states for 15 years, is facing up to 85 years in prison. he and his lawyers are preparing for his trial on charges that he conspired to send u.s. technology to iran through a trading company he set up in his basement apartment in philadelphia. you are charged with trying to buy a centrifuge that could be used to make biological weapons, like anthrax. >> i don't know about that. i'm not a biological expert to tell, you know-- >> that's in the affidavit and is part of... >> sure. >> the charges against you? >> yes. that's what they say. >> he says his client for the centrifuge was a science lab at a university in dubai. but he says he never bought it. he only asked for its price. >> it was too expensive. you
CNBC
Feb 4, 2013 9:00am EST
by 2.75%. declines on the part of bank of america and citi, down more than 1% apiece. technology, it follows the theme all throughout 2013 so far, technology is slightly lower. although we do have apple trading higher today. the fact that apple of late seems to be bucking the trend of the markets. whenever that trend happens to be. today is a downtrend, apple trading higher. certainly for the year, it has been that the markets rallied without apple. in spite of apple we should note. it is still the second largest company by market capitalization on the s&p. >> they're very close, exxon and apple. and we have to mention facebook. i mention facebook because the shares are down over 3%. adding to losses that have started to add up percentagewise for this company, after reported what were not great earnings. at least when you look at mobile and the growth there. again, that according to some who follow the company closely, who were not as perhaps enthused as they otherwise might have been. >> within the realm of this sort of large cap, technology leaders, google getting a downgrade today
CNBC
Feb 20, 2013 5:00pm EST
. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. here is what "fast" is following tonight. taking a toll. the luxury home builder dropping today on earnings. is the stock priced for perfection? the ceo joins us. fool's gold? a dreaded death cross. but tim seymour isn't leaving the miners for dead. and office office. is the merger of office max and office depot good or bad for staples? dan and karen face off in the supply closet. first, let's get straight to today's action. the s&p and the nasdaq having their worst day of the year. the dow having its worst day in two weeks. so, the question tonight is, is this the beginning of a bigger correction? how worried are you that the fed is about to take away the punch bowl of easy money here? dan nathan, what do you say? >> well, of course it is the beginning. at the end of the day, i think there weren't too many surprises in the fed minutes, but the ones that took the market down were already baked into the cake in some wakes. to me, you mentioned toll brothers, the prior leadership from last year, the thing
CNBC
Feb 22, 2013 6:00pm EST
powering some of america's biggest cities. answers. >>> if the housing market is coming back, then you know that i think that the housing theme cannot be denied. despite the doubts that cropped up mid-week about this sector. and if the banks are making more loans, and you know i think that can't be denied, specifically residential mortgage loans, another one of my favorite themes for 2013, which i did not abandon during the week, then how about we talk about a crazy idea for speculation friday? how crazy? you know what? i think this housing rebound is so robust that it's time to consider buying a mortgage insurer. albeit only for speculation. this is speculation friday. and the one i've got my eye on is -- radian group. rdn for all you home gamers. the stock i told you years ago you had to get out no matter what. the mortgage insurance companies, as you might expect from the name, write insurance policies on mortgages that compensate lenders or investors if the borrowers default on the loan. so let's say you take out a loan to buy a house and put down 15%. the bank is required to go to the
CNBC
Feb 5, 2013 12:00pm EST
be important. >> one of the world's top experts on valuation, he joins us now from new york city. >> we have been watching apple sell all the way down from $705 to where it stands today. what's it worth for real? people want to know who are watching this show, whether they should get in, if they have it now, what should they do. >> i think it's worth a lot more than $450. at the same time, i was listening to your discussion and i think it's good news that the traders are leaving and the momentum is gone because i left apple eight months ago and i was on cnbc when i said i wasn't going to be an apple investor because there were too many crazy people around, essentially investing in the stock for the wrong reasons. if they wash out the markets of all those investors who had no idea what happened but are trading on it purely based on momentum. the value i got and it's on my website, is about $600 per share. when investors react to the earnings report. it was not a great earnings report. growth had leveled off, but if only apple were priced on the expectation of high growth. you don'
CNBC
Feb 11, 2013 4:00pm EST
happened in six centuries. pope benedict xvi says he's stepping down as leader of the world's 1 billion catholics. claudia lavonnia now with more from vatican city. >> reporter: hello. it's been quite a day here at the vatican. of course we haven't seen this as you said in about 700 years now. the last pope that resigned or rather abdicated, let's say, was in 1294. it was the fifth. now back then it was called the great refusal by him. this time pope benedict xvi said well, i am stepping down. i just can't take it anymore. the tasks of the pontiff is just too much for me. i'm letting a younger pope take over and bring it on for the 1.2 billion catholics worldwide. certainly this was unexpected. he said he was tired, but nobody thought or expected that it would come down to step down as a matter of fact. >> thank you very much for that. we're going to talk more about that. and i'm sure it's been quite a day there in vatican city. also putting italy front and center for two important elections coming up. the presidential election due out at the end of the month. fernando napolitan
CNBC
Feb 20, 2013 4:00am EST
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. >>> u.s. futures are trying to build on gains from yesterday. the dow breaking through 14,000, adding five or six points more today. the s&p 500, 1,529. the rally supported by what we've seen out of asia and europe overnight. although trade has been mixed. the ftse 100 pushing through 6,400, adding .4% after bank of engla england. the cac and ibex slightly weaker. how do you make money in these markets? here's what our
CNBC
Feb 25, 2013 11:00pm EST
out the first store in new york city. that's not for a while now. but more important they're spending big on the nordstrom website. nordstrom's is moving aggressively into mobile. last year, mobile devices accounted for a fifth of the total sales and it grew at a 31% clip last quarter. it can help the stock to continue to power higher in a world where everyone gets 3 and 4-g. the next gatsby component, how about ralph lauren. maybe this isn't the best example. this is the premiere high end apparel brand. nothing says preppy like polo. they earned 240 a share. these companies are doing better even if their stocks aren't. and it gave very healthy guidance for 2013. this is what happens when you have a brand that's perceived to be on the high end of things. the money flows in because people cannot resist a little conspicuous consumption. this can be a perilous game. look at coach. they're a dog because they're widely perceived as having fallen behind on the style curve with its merchandise. i don't think ralph lauren will fall prey because they have staying power and they have s
CNBC
Feb 13, 2013 6:00pm EST
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. ens. answers. >>> we've reached the final step. how do actually analyze the company that's coming public. here you have to assess what the company makes, ask if it's profitable and most important, thinking about hanging on to the stock after the deal, you need to know how big its end markets are. that's the key thing. this isn't all that different from analyzing any other stock, except you have less information to go on, less track record. most of it coming from the prospe prospectus. it can be easy to figure out if it's a brand or has a product. but it can be more difficult to figure out what the company makes if it involves a sophisticated product, especially if it's technology. semiconductor miniaturization that can be some of the toughest ones. do you like it? that isn't the only question. but it doesn't matter. think about heelies. a fad i absolutely despise. safety. i jump when it became quickly and you have to get in and get out quickly. it popped into the 30s and began a long, sic
CNBC
Feb 12, 2013 3:00pm EST
site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. (music throughout) why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> welcome back. we have breaking news on apple. let's get to scott wapner ri
CNBC
Feb 22, 2013 9:00am EST
top 50 of citi's new global champions. >> really? >> apple's not even on the list. >> holy cow. >> but the question is, why should it be on the list? >> coach is on the list. >> nine times earnings. coach is on the list? >> should go buy coach. buy a man bag. >> man purse. >> are we saying that on the list, which i have here somewhere, that apple's not one of the best 50? >> best 50 what, though? >> listen, maybe that's the bottom. >> coach, cummins -- >> i like cummins. >> ebay. >> i like ebay. >> speaking of watches, you can get a fossil instead of a swatch. >> listen, man, fossil, i told you yesterday fossil is going to determine whether that apple watch is better than the google glasses. >> google's on the top 50 list. >> i believe that. >> i'm going to 1,001 right now. >> where is brian white? >> right. that almost -- i don't want to say it topped the stock. when you start to get the really far out there price targets on apple, that's when the cracks in the story started to really -- >> look, here's capital oil and gas. one of the best performing stocks of the last few yea
CNBC
Feb 6, 2013 5:00pm EST
the butt of jokes in this country, could, in fact, be the lone voice of reason in washington. that will do it for me. see you tomorrow. stay with us. "fast money" begins right now. >>> live from the nasdaq market site in new york city's times square, i'm melissa lee. debbie downer. we are so close to a record for stocks. why the bears are starting to growl. yelp reviews. the ceo joins us with his take on monetizing mobile and how his company is competing with google and facebook. and rotten apple? the woman who called the demise of enron explains why the tech darling has further to fall. let eelgs go straight to the traders and ask what the top trade was today. guy. >> good to be here tonight! love the rhames for a long time and if you want to go downstream in rails, we talked about this name before, had a nice day today. look at trinity industries, trn. >> karen, your top trade? >> didn't do a ton, but f and p, a name we talk about from time to time continues its upward march. >> fifth and pacific, to be exact. >> the old liz claiborne. >> steve grasso? >> goldman sachs. poised to
CNBC
Feb 12, 2013 9:00am EST
of three cities, in i think three days right after the state of the union. is that -- do you take issue with that? the president going across the country to try to get his message across? do you think he should stay in d.c. and get to work with congress? >> it's what he does, right? he's an alpha dog campaigner. that's what this president does. it's what he's done for four years. you know, it's like deja vu. it's what we said two years ago, when it comes to campaigning, when it comes to getting on a bus, when it comes to using air force one, he's pretty good at it. but when it comes to actually following his debt reduction committee's recommendation, when it comes to passing a budget, he doesn't do it. look what's going to happen over the next two months. over the next two months, the republicans are going to, under paul ryan's leadership, they're going to pass a budget. they're going to present the budget. it's going to be serious when it comes to debt. it's going to be serious when it comes to spending. we just passed two measures in december, so that we could avoid massive defe
CNBC
Feb 18, 2013 4:00am EST
on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you kno
CNBC
Feb 15, 2013 4:00pm EST
cities. siemens. answers. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back. we're now in countdown mode, exactly tw
CNBC
Feb 15, 2013 3:00pm EST
are now powering some of america's biggest cities. siemens. answers. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. reminds me of our network before cdw virtualized it. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? >>> a penny for your thoughts on this one. president obama gave his two cents on the fate of the penny saying he's open-open to the idea of getting rid of the copper coin. the president says it costs more for the government to make a penny than it's actually worth. the mint says it costs nearly it.5 cents to produce and distribute a single penny. tell us what you think on that one. >>> meantime, let's take a very quick look at what's happening with the markets. the dow is down by 0.3%
CNBC
Feb 15, 2013 4:00am EST
. china is building 221 new cities from now to 2025. so there is a huge demand for the basic kind of commodities that is building roads, bridges, highways, motor base and so on and so forth. so i think there is a market for some of the dmodties there. and that, of course, is the asian profile in the region as the company size, as the family size is dwindling. so that, again, translates to demand for health products, lifestyle products and so on. so i think there is a lot of the positive area to look forward to in the region. >> andrew, we've been talking a lot, of course, about currency today with the g-20, as well. will currency have a factor to play on m&a? i'm presuming if your country is strengthening or weakening, that changes the economics quite a lot. >> yeah, sure. as i was saying in the beginning, the whole world is printing money. so certain currencies are -- especially the japanese yen on a down turn. and then on the other hand, the renminbi, the chinese yen is gradually on the up trend. so you can play both ways. and as far as the chinese yen is concerned, the higher purc
CNBC
Feb 27, 2013 6:00pm EST
the truckers are a fabulous indicator of economy strength or weakness. jb hunt, saying all systems go. and cramer fave kansas city southern, ksu, $103, all-time record and it may be in talks to build a major hub to bring oil to texas refineries. shipping by train. and important to get an outlet for the domestic oil, and ksu is the preferred way to play it. a terrific stock because of the smoking hot mexican trunk line. how do we know this isn't a blip? you see companies make truck engines and components like cummins, $2.39 and remarkable runs all, nowhere near as amazing as boeing. the supposedly hobled pitiful helpless giant maker of planes that isn't supposed to be able to fly any time soon, if you read the press reports. why the heck 66 cents from the 52-week high, how about because they play huge orders with the companies, because it may be, despite what the press reports you hear and see the financest manufacturer in the world. they will fick this problem faster than anyone believes possible. that abundance of order makes sense given airlines are the most solvent i have ever s
CNBC
Feb 5, 2013 1:00pm EST
the board they have never seen better feedback. they dispute these findings. by the way, other automakers we contacted dispute these findings there consumer reports. this is worth watching. turbo charge engines are here to city and have become incredibly popular. >> sure. thank you so much. >> you bet. >> gold is down, closing now. sharon epperson tracking action at the nymex, gold is the only one in the complex that's lost a little steam today. >> that's what happened here into the close we have seen gold prices drift lower. the only cop pont that is negative. we have seen gold in yen terms that will perform very well not only today but so far this year. it's up about 7%. the real standouts continue to be platinum and palladium. in fact, barclay says after the close, look for platinum to go 1725 to 1735 an ounce. back to you, tyler. >> sharon, thank you very much. how should retirees invest with the dow two points shy of 14,000. three strategies to help you find your next move. first, is the housing recovery for real or is it another bubble get ready to burst? we will have the
CNBC
Feb 20, 2013 6:00pm EST
online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. how do you keep an older car running like new? you ask a ford customer. when they tell you that you need your oil changed you got to bring it in. if your tires need to be rotated, you have to get that done as well. jackie, tell me why somebody should bring they're car here to the ford dealership for service instead of any one of those other places out there. they are going to take care of my car because this is where it came from. price is right no problem, they make you feel like you're a family. get a synthetic blend oil change, tire rotation and much more, $29.95 after $10.00 rebate. if you take care of your car your car will take care of you. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] tha
CNBC
Feb 13, 2013 4:00am EST
. >>> and shares in american barrick gold are trading down, 8.5%. this after the mining company reported full-year earnings down 39% last year. that was worse than analysts expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot
CNBC
Feb 5, 2013 6:00am EST
the electric transmission system. >> so what happened to a smart grid? >> a smart grid the idea that we could put some solar panels in arizona and send that electricity to new york city, i don't think that was ever that realistic. but, what we're talking about is smart grid technology, in that with thousands or millions of sources of electricity all around the country, the i.t. that's going to be necessary to make that all work together is going to be pretty huge. >> david, thank you very much for coming in and explaining all this stuff to us. >> come on back. >> i could go on for aheil. >> we didn't talk about the tax credits and whether or not that's going to lay. >> who would have known that electricity could be interesting. >> thank you. >> thank you. >> when we come back -- >> blackberries every second it's very interesting. >> house majority leader eric cantor and his plan to give the republican party a message makeover. "squawk" will be right back. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he
CNBC
Feb 1, 2013 7:00pm EST
sponsor with a $100 million ten-year deal, and it's absolutely beautiful. the city has been transformed since katrina in '05, and of course the bp spill in 2010. they spent about 300 million upgrading the superdome. another 300 million upgrading the airport. and another 400 million on various other projects in the city. i've been down there about four times in the last four years, larry. the city has never looked better. and also on a jobs day i do want to note the unemployment rate in the city of new orleans right now is under 5%. so if anything could say they came back stronger, you could definitely say that about new orleans. although i will tell you that there are some pockets that still show the damaging effects of the storm 7 1/2 years later. >> well, okay. but it's still great news. and the low unemployment rate is great news. >> absolutely. >> now, i hate to do it to you, old buddy. but as you know, it's a very big part of the super bowl story. a lot of people are talking about it. has nothing directly to do with the super bowl. that's of course dan marino. he's part
CNBC
Feb 3, 2013 11:00pm EST
the 15 who died that day in texas city. it was the worst workplace accident in this country in 16 years. >> these things do not have to happen. they are preventable. they're predictable, and people do not have to die because they're earning a living. >> welcome to 60 minutes on cnbc. i'm leslie stahl. oil is the engine that drives our economy. and as oil becomes scarcer, the push to discover and develop new sources becomes increasingly dangerous. this edition examines two recent disasters in the oil industry with a great deal in common: the deepwater horizon rig in the gulf of mexico and the refinery at texas city, which suffered explosions five years apart. they were both operated by bp. and in both cases, 60 minutes looked at whether bp's cost saving measures may have had deadly consequences. first we'll look at the biggest off shore oil spill in history, the blowout of the deepwater horizon drilling rig in 2010. critical revelations in the disaster have come from one of the last crewmen to escape the rig, mike williams, who first told his story to scott pelley in may, 2010. wil
CNBC
Feb 24, 2013 7:30pm EST
make a big city run smoother. "on the money" begins right now. >> here's a look at what's making news as we head into a new week on the money. the feds spoke, the markets shoot. the federal reserve releasing minutes this week, it's considering a slowdown of the bond buying plm before it hits the target of 6.5% unemployment. members were concerned about the possibility of inflation and of expanding its balance sheet even further. the markets did not like that at all. index is having one of the worst days of the year on wednesday. the markets rebounded later in the week. office depot and officemax will be walking down the merger aisle. announcing an all-stock merger to create a company worth one and a quarter billion dollars. they will close underperforming stores. some important companies are still reporting earnings. dell beat analyst expectations as it hewlett-packard and walmart. aig came in ahead as well. gas prices are at a four-month high. trilel a reporting national prices have risen 43% over that period. prices usually head up going into the spring driving season. we've had ner
CNBC
Feb 20, 2013 7:00pm EST
were to look at them on the map that the epa puts out across the country, it can vary from city to city, county to county. if we could have a national blend or two, that would, you know, bring a lot of this -- >> call the dogs off -- call these dogs off. these regulatory dogs. >> well, before we get too excited, it seems to me that -- whether or not there's too many regulations, i don't think there's been a change in the regulatory environment that these refineries have been operating under. that is, you'd have to show me there's been a lot more. have there been a lot more regulations leading to refineries? >> the biggest changes go back to the clinton administration, the new source rules. if you did anything substantial in a refinery, it would have to comply with the new standards. >> since then, the prices have come way down and -- >> absolutely. and some of the big refineries that supply the oeast coast, larry, have been in the caribbean, not here. >> i always used the rule of thumb that eventually gasoline prices will follow crude oil prices. i still think that rule of thumb is
CNBC
Feb 21, 2013 9:00am EST
up the electrical vehicle initiative in new york city the deputy mayor of new york, will join us live. >>> before we head to break, look at this morning's early movers on wall street. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards apply online. creditcards.com. >>> the stock, a crazy couple of weeks, tesla shares dropping after yesterday's earnings report after the bell. we will hear from elon musk next hour when we hear from phil lebeau. >> owning the stock is one of the pseudomomentum things. 22,000-plus cars. the feel of the first sole large
CNBC
Feb 28, 2013 1:00pm EST
our researchers in the environment immersed in difficult healthcare issues, city issues, as africa urbanizes, really raises the opportunity for ibm to be on the ground. >> now, for investors, this translates potentially into margins. argument that ibm is basically our researchers are smarter. we were working at this big data problem. it is the differentiator for the future. tell me, what are the most critical sorts of problems that ibm will be able to solve and capitalize on. >> our core value, jon, is innovation. we invest in innovation. we invest over $6 billion a year in r & d. much more than our competitors. because we believe we must constantly remix and reinvent our business up to higher and higher value to our clients. that of course results in increased margins. as we look at this world of dig data now, which is growing at exponential rates, cloud technology, et cetera. our clients are just buried in data that they can't extract information from it. analytics is the big play and today we announced to the world that we are increasing our analytics and big data revenue in 201
CNBC
Feb 8, 2013 9:00am EST
city. >> a couple of headlines from the new york stock exchange. regarding winter storm, they say they do expect business as usual. this is according to a spokesperson. keeping member firms and traders informed of the weather reports. remember, we had some issues during sandy, obviously, where the exchange had to work mightily to open. it says it has contingency plans in effect. the surge they're talking here in new york is three to five feet. sandy was 13 feet. >> far different. >> ostensibly under a lot less pressure, but you never know what the storm's going to bring. >> up in the boston area, i believe it could be more significant. and again, with the high tides, highest tide of the month, what time will the surge be. i know there's a lot of focus on that. >> people should listen to the safety. >> watching shares of linkedin today. all new-time highs. blowing past expectations with its earnings. revenues up 81%. mostly coming from linkedin's recruitment services. stocks up almost 80% in the last 12 months. there are stories where even head-hunters are under severe pressure, be
CNBC
Feb 13, 2013 9:00am EST
jack lew while he worked at citi for the money he collected. he'll describe himself as a changed agent inside citi. he doesn't mention at all in the prepared remarks anything about this fund that he invested in, that was based in the cayman islands. that's likely to be controversial. we're likely to hear several questions about that one. david, the prepared testimony is one thing, but when then get to the q&a, they'll bear down on what jack lew has to say. carl. >> eamon, there's some discussion how his grilling might be a little bit light, only because republicans haven't really coalesced around a whole lot of opposition. >> yeah, i think the consensus is, they might bang him up a little bit in the hearing. but the expectation is he'll get through and the president will get his man. jack lew has been scrutinized in the past for a variety of jobs. he's a well-known figure here in washington. a lot of republicans don't like his negotiating style because they don't like where the president is coming from ultimately. but we expect jack lew will get through here. the questions and answers
CNBC
Feb 19, 2013 1:00pm EST
. what's the other store. circuit city went out of business. there's only a few left. people are tactile to a certainly degree and i think people are going to like brick and mortar and stop from shoe rooming. i think best buy a decent buy, stop at 15. >> that sounds interesting. let's move to rchl bc capital, upgrading mgm to outperform to sect or perform, increasing the target to $16. rbc seeing catalyst to unlock further equity including expectations of dividend from mgm china. they think mgm can regain it's new license. shares up there over 21%. what do you think, jim? >> when i look at it, i think the reasons they picked out were good. the china dividend and gaming license, that's good. when i look at a stock that had a 50% rally, 48% since mid november, i start to think people are not going to buy, rally so much. to me looks like the chart could go lower by a buck. >> thank you so much. had a little audio hit. one of the biggest stories, influential man on wall street, michelle will tell you about. >> absolutely. on wall street fighting it out with one of the most influentia
CNBC
Feb 14, 2013 3:00pm EST
state of the city address new york city mayor michael bloomberg is proposing a citywide ban of plastic foam containers. >> styrofoam increases the cost of recycling by as much as $20 per ton because it has to be removed. something we know that's environmentally destructive, costing taxpayers money and that is easily replaceable. we'll work to adopt a law banning styrofoam food packaging from our stores and restaurants, and don't worry. the doggie bag and the coffee cup will survive just fine. >> a switch to an alternate material would be more expensive and dunkin' donuts would have to replace foam cups. city council speaker christine quinn does seem open to it. in bloomberg world, new yorklers dress less than 16-ounce sodas in paper cups, maria. back to you. >> court, thanks very much. >>> pepsico higher after the beverage giant proposed earnings that exceeded expected. time to buy or are you better off with rival coke? coke versus pepsi in talking numbers today on the technical side. richard ross is global technical strategist with you aburg grayson and on the fundamental zach
CNBC
Feb 14, 2013 5:00pm EST
the industry. but we're very meaningful where we're focused on these focused cities. >> david, it's karen. let me ask something. a big merger like theirs, i would think, invariable has some integration hiccups. how do you take advantage of that? >> you know, karen, it does. we look at delta and northwest, united and continental and now american and usairways. and let's face it. these are companies that are going to be very -- and they have been very inwardly focused, if you will. and quite frankly, i think the industry has done a really nice job with some very tough consolidation. but jetblue, we're focused on our independence path, organic growth, our own people, our own airplanes. and i'll tell you, the traveling public, we added service from boston to -- as we talk about boston to washington. new service will be philadelphia. traffic is up 100%. so -- and the fares are down 30%. this is how we're going to take advantage of these kind of opportunities. >> dave, i'm going to switch gears. you've always been very open about your company's past black eyes. and here we have one on car
CNBC
Feb 27, 2013 7:00pm EST
jersey but will it save the casino business in atlantic city. this is courtesy of chris christie. we're going to clicks to find out. first up many are still down right stunned by the news that new jersey governor chris christie will be left off the list of this year's speakers at the cpac conservative conference. i believe it's a mistake too. but now let's take this question straight to the man who apparently made the decision. joining us now, chairman of american conservative union which sponsors cpac. our panel is still with us. al, thank you for coming on. by the way i love cpac. i've spoken there. i got invite this to speak at the thursday night dinner. it's not about that. christie, budget cutter, tax cutter, went after the union, school choice, pro life how can you guys leave him off the list? >> remember this real quick we're a conservative conference not a republican party meeting. number two, we receive hundreds of requests for main ballroom speaking slots and we have maybe 30 for the whole three day conference. then lastly we judge people on two ways. one is how relevan
CNBC
Feb 28, 2013 4:00am EST
more than the annual salary. the city of london, seen as a major loser in this deal. it has an estimated 150,000 staff potentially affected and i just have to say, i keep thinking i'm missing something on this story because if this actually happens, ross, the impact would be -- it would have a major impact on the city, especially at the top. what does it mean for the banks? what does it mean for the potential returns when you look at comp and return on investment for, you know, return investment capital for some of these financial names? >> look, if you're freezing pay bonuses at one times salary, which for the investment bank is quite a dramatic change, what will the reaction be? obviously, a lot of people leaving banks or you'll see -- which i suspect you'll also get an awful lot of complex pay deals coming up. >> that, too. >> and there's a lot of ways to try and get around it. >> credit suisse and some are trying to pay with derivatives. there may be different kinds of comp. but if you're talking about the best and the most talented, you could argue about that in the bankin
CNBC
Feb 17, 2013 11:00pm EST
he's trying to get dhl to at least donate the air park to the city. >> there's hurt. there's a sense of betrayal. >> "betrayal" is a strong word. >> dhl came in and made promises, and i don't think they lived up to their side of the bargain. that's the past. we can't dwell on that. we need to move forward. dhl, we hope, is going to help us with the air park. >> in the meantime, the sugartree ministry soup kitchen is expanding. >> we're actually building-- remodeling our room over here, adding 200 more seats. >> that would be about double what you're doing now. >> exactly, we should be able to feed about 350 people a day. >> you can talk about possible medical options. >> dhl workers in their meetings just heard that the state unemployment benefit fund went broke last week. the federal government rushed in with an emergency loan of $500 million just to keep the checks coming. the feds are also spending $4 million here to train workers in computer skills, but that doesn't mean there will be jobs. the laid-off workers are guaranteed access to health insurance for a year and a half
CNBC
Feb 8, 2013 4:00am EST
. everyone is trying to get out of the city before the storm hits. but everything starting from now is basically canceled. >> it will be hard. if you are stuck, there's within thing you can do. >> which is? >> turn the tv on. >> and watch cnbcwex. >> get your food in -- >> and -- >> no, no, the entire channel is fine. you don't have to just watch "worldwide exchange." there are worse things you could do. >>> still to come on the show, apple says it's considering returning cash to shareholders after coming under pressure from david einhorn. more details when we come back. . this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. [ male announcer ] ok, here's the way the system works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial
CNBC
Feb 13, 2013 3:00pm EST
york city's biggest sewage treatment plant. this is not a joke. the city says tickets for three-hour tours are nearly sold out and highlights include the giant egg-shaped receptacles. >> thanks for watching "street signs." history always repeats itself. "closing bell" is next. >>> hi, everybody. good afternoon. welcome to the "closing bell." i'm maria bartiromo here at the new york stock exchange. stocks mixed at this hour. the dow struggling to stay above the 14,000 level and the nasdaq modestly higher. >> just a reversal. >> i'm bill griffith. we'll see if the dow can rally back. we're at the lows of the day right now but also following these stories on today's ram. the ceo of dow component cisco will be with us. john chambers will join us moments after the company reports earnings. will the results move us closer or further away from a new high? plus a lot more to get into with the always outspoken john chambers. >> he's terrific and how is this for an odd couple. facebook founder and ceo mark zuckerberg having new jersey republican governor chris christie over to his house tonigh
CNBC
Feb 25, 2013 3:00pm EST
is only the latest act of violence in sin city. we have a live report coming up on a violent crime wave there and if it's eating into the city's bottom line when it comes to the very-important tourist trading. that's later on "the closing bell." [ male announcer ] any technology not moving forward is moving backward. [ engine turns over, tires squeal ] and you'll find advanced safety technology like an available heads-up display on the 2013 lexus gs. there's no going back. i've always kept my eye on her... but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. >>> welcome back. if you're just joining us, markets are seeing a selloff as we go into the final minutes of the trade here. dow down 132 points. the s&p back below 1500 for the first time in a little while. problems in washington and overseas, though, are not bothering one of our next guests. sam stoval. >> welcome, fr
CNBC
Feb 8, 2013 5:00pm EST
snowy times square in new york city. the traders and the weather outside is indeed frightful. trust me. but the returns from the stock market are down right delightful. the dow flirting with the 14,000 level preside level. and the nasdaq new 12-year highs. so the question, is it too late to get in? let's find out. mike, it's interesting the s&p right now is almost close to the targets of a lot of strategists on wall street. we're almost there. >> you wonder whether you should get worried when the analysts are having a hard time keeping up the market. i understand why people would be bulls. talk about the divergence between corporate earnings and the foot is firmly on the gas pedal. and they say people are underinvested. i don't buy any of those. if the fed has their foot on the gas pedal, they could take it off. as far as everybody being underinvested, goldman sachs put a a ropt indicating they have 40 to 45% of their assets in equities already. when i look at the dow chart, ten-year chart, looks to me like it could be forming a double top. look at the s&p top, looks like it could be f
CNBC
Feb 5, 2013 2:00pm EST
not prevent the city from hosting a future super bowl as they have a good time and richly deserved one. >> indeed. we wish them all the best. meantime, ty, an old friend of "power lunch" and cnbc is retiring. global management chairman jim o'neal is retiring a bit later this year. the announcement made in a memo from ceo blankfein. he invented the term brics to highlight economic reform. he's been with us since 1995. he's always a terrific guest, tooe, he has fantastic insights not only on bric countries but currency market. he was always a pleasure to interview, i found, because he always answered the questions, which is refreshing. >> that's always a good thing. he was a delight to talk to. very informed and informative guy, always enjoyed having him on. wish him well, obviously, in future endeavors as the memos say. all right, everybody. that will do it for today's edition of "power lunch." thanks for watching. sue, see you. >> i'll be home in a few minutes. "street signs" begins now. >>> we are back in buy mode, stocks marching higher once again. wait until you hear from a billiona
CNBC
Feb 8, 2013 7:00pm EST
time to get in and dig out. another big concern especially in some of the areas outside of the city is a loss of power. these winds are going to get to hurricane strength in some areas, and that's going to threaten the power lines. now, over the last day or day and a half, we've obviously seen a run on all of the hardware and home improvement stores in this area. but also the grocery stores. people getting the food they need to sustain themselves for several days, saying they realize they will probably be in their homes for an extended period of time. that's the very latest here in boston. i'm jay gray, nbc news. now back to you. >> all right. many thanks to jay gray. we appreciate it. >>> now, the president might have some senate democrats on his side as they scramble to find replacement cuts for the march 1st across the board sequester. but according to the latest from ace pollster scott rasmussen, only 36% of likely voters think oklahoma should find a way to stop the automatic cuts from going into effect. scott rasmussen, founder and president of rusmussen report joined me. scott as
CNBC
Feb 7, 2013 2:00pm EST
in new york city, southern end of the storm. maybe three to six, maybe two to four but places like philadelphia, d.c., you will see snow. nothing in terms of shutting your cities down at all. but then we start heading on towards boston. not just a friday night event. boston is starting friday night and continues into saturday morning. into saturday night. and potentially if this low slows down, which we are thinking it actually might start to do late on saturday, we could see the snow continue saturday into sunday as well. so we have some perhaps historic snow fall totals on our map here but we could up the numbers if we get a long can duration of events. like i said, boston, you're the bull's eye. on the low end a foot of snow. on the high end, maybe two, maybe more feet of snow in the boston area. >> paul, we don't acknowledge as the world outside of the new york city area. that said, what are risks. i'm looking at national weather service. wlart risks that this gets up high, upgraded into the new york city area. is there a chance we get absolutely dumb 7abs dumped on here? >> we
CNBC
Feb 26, 2013 9:00am EST
prices continued to rise through december of last year. the ten-city composite up 5.9%. the 20-city composite up 6.8%. david blitzer is the chairman of the s&p 500 index committee. david, welcome back. good morning. >> good morning. >> pretty good numbers to close out the year. people still trying to get their arms around how distressed properties are moving some of these prices, especially in key markets. >> that's right. i think the overall picture is very, very strong. the national index, which is up 7.3% for the four quarters, ended with the end of 2012. so really, all across the country things look good. only one city of all 20 was down on the year-over-year basis. >> still, though, i'm told the index is heavily skewed by the share of distressed. that's why atlanta could be down 17%. and now up 10% year-over-year. are these numbers, are they reflective of what's happening with real buyers? >> yes, i think they are reflective of what's actually happening with real buyers. what we've seen in city after city over the last couple of years is the city will get hit with a wave of for
CNBC
Feb 5, 2013 6:00pm EST
: a big booyah, from the windy city. long time fan. >> i appreciate it. >> caller: h u.n. >> buy, buy, buy. >> go to john in florida. >> caller: jim, i would like your latest take on arena pharmaceutical. >> at jim cramer on twitter, because i didn't fall in love with this sto, a lot of people despise me. i know people are in love with it. i am not in love with it. carl in arkansas. >> caller: greetings from arkansas. i am thinking of picking up a bank stock, your thoughts of new york community bank. >> it is so much higher than all the others, i will send you to keen. i don't know, it is a nice gain. i prefer key. i like the safety. that, ladies and gentlemen, is the conclusion of the lightning round! >>> coming up, allergra catapulted in 2013. botox smoothed out wrinkles for their results. are shares heading high sner cramer talks to the ceo, just ahead. [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on
CNBC
Feb 12, 2013 6:00am EST
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. man these guys are slow. reminds me of our network before cdw virtualized it. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer.
CNBC
Feb 19, 2013 4:00am EST
economics. i see when i go abroad, when foreign officials come to milan, the city is once again a focal point and there's a willingness to discuss and trade. >> the more foishlgs and public i speak to here, the more concerned i get about the risks of forming a stable government after this weekend's election. and remember, this key factor around 30% of this population still undecided on who they're going vote for. so i think this rally for beppe grilliot isn't going to be very important in terms of sentiment right now. i'm going to be speaking to him later and we'll have that interview on closing bell. so come back to us. guys, for now, it's back to you. >> i was just thinking, you should ask him about the comments from the japanese prime minister who suggested that everybody in italy has gone out and spent their money and they haven't saved it like in japan. so get some feedback from that, right? >> yeah, i will. 11% savings rate here, by the way. >> exactly. >> interesting. >> exactly. which is why they may slightly disagree with those comments. >>> meanwhile, italy is attracting criti
CNBC
Feb 19, 2013 11:00pm EST
think the solar city is on to something. if you can get money to put a solar panel on and cut my electric bill, you would be plenty happy. matt in texas, matt? >> hi, jim. boo-yah from austin. >> man, austin, we had such a great time when we were in austin, at u.t. it was fantastic. what's up? >> caller: hey, i'm a longtime shareholder of unh. despite, due to medicare, is a small book of business, which is down over 6%. do you think you have growth strategy, and in particular international expansion or enough to offset obamacare? >> no, no, these stocks open down and down big. you get this medicare advantage, and they're going to cut it by that much, the stocks will be for sale. there's so many others, take the money out, buy cardinal health. you know, that's what's going to happen. anyway, some might be tempted to fight the tape. i know my friend doug cass going back and forth with me, he's a fighter, but why fight it? when you're fighting guys like buffett and dell and anderson, kinder, malone and roberts, man, they would be rich. just doesn't make sense to me. i say join them.
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